The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of January. At the national level, the number of dwelling approvals surged by a seasonally adjusted 17.1% to 19,8511. The overall lift was driven by the unit & apartment market (+42.2%), whereas house approvals fell by 1.1%.
In the year to January 2018, dwelling approvals rose by a seasonally-adjusted 12.0%, with unit approvals up by 18.1% whereas detached house approvals rose by 6.0%:
